CryptoPotato

Vitalik Buterin Increases ETH Liquidation as Market Exhibits Further Weakness

Ethereum co-founder, Vitalik Buterin, has increased his ETH sales amidst a weak crypto market. On-chain data indicates that Buterin sold about 1,869 ETH, equating to roughly $3.67 million, as the token's value dropped over 5%. This follows a similar trend where Buterin sold nearly 7,000 ETH during a significant 22% price drop. Since February 2nd, sales linked to Buterin have topped 8,000 ETH. Buterin has maintained his actions are aimed at supporting the Ethereum Foundation's efforts in ecosystem development, open-source software, and infrastructure. Despite these sales, Buterin still holds over 224,000 ETH valued at approximately $429 million. Meanwhile, Erik Voorhees, founder of ShapeShift, has started buying back ETH after selling a significant portion last year. This activity comes as the crypto market navigates through a fragile period, with Ether trading near a crucial support zone around $1,750 and facing thin liquidity.

Strategy's Minimal Bitcoin Acquisition Amidst Nearly $7 Billion in Unrealized Losses: An Overview

Despite the ongoing cryptocurrency market correction, Strategy, the world's largest corporate Bitcoin holder, announced a comparatively small acquisition of 592 BTC for roughly $40 million. This brings the total cryptocurrency portfolio of the firm to 717,722 BTC, purchased for about $54.56 billion. The company raised the funds for the Bitcoin purchase by selling 297,940 Class A shares in the past week. However, due to the recent crash of Bitcoin to $66,200, the firm is now facing an unrealized loss of about $7 billion. This is a stark contrast to just over a month ago when the company had an unrealized profit of over $10 billion after a billion-dollar purchase of 13,627 BTC. The current Bitcoin trading price is about 50% away from its all-time high, leading to speculation of a continuing bear market.

Is Solana (SOL) Set for a Whopping 95% Plunge?

Solana's SOL has seen a drastic decline recently, with its value dropping almost 40% in just a month. Some experts suggest that the bears aren't done yet, predicting a fall below $10 soon. SOL was among the worst-hit cryptocurrencies in the recent market crash, briefly dipping to around $77 before recovering slightly above $80. Analyst Ali Martinez noted a sell signal in the asset's recent performance, suggesting a possible 95% decline similar to a previous pattern in January 2022. If the price breaks below the $76 support zone, it could potentially fall further to $53, $35, and $23. Despite the gloomy outlook, the asset's Relative Strength Index (RSI) suggests a potential rally. However, recent increases in exchange netflow could be read as a bearish pre-sale signal.

Pumped!

Significant Drops in Altcoins as Bitcoin Plunges to Lowest in 17 Days: Market Analysis

Bitcoin's value slipped below $64,500 for the first time in over two weeks, with altcoins such as SOL, HYPE, and BCH recording significant falls. Despite a strong performance over the previous weekend, a downturn began on Monday, with the cryptocurrency falling to $65,600 on Thursday. Although it recovered to nearly $69,000 over the weekend, Bitcoin's value slipped dramatically following the opening of the legacy futures market, falling to a 17-day low of $64,300. While it managed to rebound to over $66,000, its market cap has fallen to $1.325 trillion. Other cryptocurrencies also suffered losses, with Ethereum, XRP, BNB, DOGE, ADA, and LINK all recording declines, and the total cryptocurrency market cap dropping by over $60 billion.

The Quickest Plunge of Bitcoin (BTC) Has Ended, Yet the Most Damaging Phase is Still to Come

Bitcoin's value briefly dipped under $65,000 due to President Trump's proposed 15% global tariff increase. Concurrently, market data shows Bitcoin is in a phase causing maximum psychological damage to investors. Doctor Profit, an analyst, outlines financial stages of Bitcoin's value. Stage 1 saw a rally from $115,000 to $125,000 with a widespread belief in low risk. Stage 2 started with a decline below $100,000, causing stress among investors. Stage 3 confirmed a bear market with a drawdown of 38%. Stage 4 is characterized by low volatility and high stress, with the market expected to move within a defined range. Stage 5, full capitulation, is projected to happen in a few months, and Stage 6 will be stabilization and reversal. The fastest downside is over, but the most psychologically damaging phase is beginning.

Bitcoin Plunge Leads to $61.5 Million Liquidation of a Whale's Assets

When Bitcoin dropped to its lowest point in over two weeks, reaching below $64,500, it resulted in nearly $500 million in wrecked positions in just a few hours, affecting almost 140,000 traders. Notably, an unidentified whale lost $61.51 million during Bitcoin's substantial dip. This liquidation occurred on HTX, involving the BTC/USDT trading pair. Another individual impacted was Taiwanese-American entrepreneur, Jeffrey Huang, who is known as Machi Big Brother. His Ethereum position was partially liquidated, though his total loss is now over $28.8 million, despite the fact that he maintains his Ethereum longs with 1,700 tokens, currently valued at $3.2 million. This occurred as Ethereum's price was rejected at $2,000 and fell to $1,850, its first time at that level since the February 6 crash.

Swift Plunge in BTC Value: Understanding Bitcoin's $4K Dip and Predicting Future Trends

Following President Trump's recent tariff announcements and the US Supreme Court's ruling that his previous tariffs were illegal, Bitcoin's price took a significant hit, dropping by thousands within hours. The slump was felt shortly after the legacy futures markets opened on Sunday afternoon, echoing the scenario from a few weeks ago when heated tariff exchanges between the US and EU led to a similar plunge. Bitcoin's value plummeted from $67,800 to a 17-day low of $64,350, though it found support and currently hovers near $66,000. Analyst Ali Martinez foresees potential support levels at $58,500, $54,440, and $41,500 if there's another substantial drop. Altcoins also experienced drops, with total liquidated positions amounting to nearly $500 million on CoinGlass.

Four Factors That Could Influence Cryptocurrency Markets This Week

The cryptocurrency market has taken another hit with Bitcoin losing over $3,000 in a short time, eliminating all gains accumulated over the weekend. This downturn coincides with President Donald Trump's imposition of a 15% global tariff and ongoing geopolitical tensions between the US and Iran. Key events this week that may influence crypto markets include the reaction to Trump's tariff on Monday, the release of February's Consumer Confidence data on Tuesday, Nvidia's earnings report on Wednesday, initial jobless claims data on Thursday, and January's Producer Price Index Inflation data on Friday. Bitcoin's value has dropped to around $65,000 and Ether has also experienced similar losses, falling to its lowest level since early February. Other altcoins like Solana, Cardano, Hyperliquid, and Chainlink have also suffered significant losses.

Investigation Launched into Bithumb's $1.3B Bitcoin Mistake and Lax Financial Supervision

South Korean financial authorities are under criticism for not identifying significant faults in Bithumb's systems that led to a significant Bitcoin mistake. Despite several inspections by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), a vulnerability remained that enabled an employee to initiate large coin transfers without detection. This error occurred during a promotional event where users were wrongly credited with 2,000 BTC instead of coins worth 2,000 won. The incident raised concerns about internal controls, ledger management, and regulatory supervision. The FSS is now extending its investigation into possible violations involving investor protection, anti-money laundering, and system flaws. Simultaneously, a team from the authorities and the Digital Asset eXchange Alliance (DAXA) is reviewing asset verification and internal controls at other major exchanges.

A Sixth of All Bitcoin Held on Centralized Exchanges Despite FTX Crash

Approximately 3 million Bitcoin (BTC), equivalent to 15% of the circulating supply and valued at around $200 billion, are currently held on centralized exchange platforms. This is despite the FTX collapse in 2022 and ongoing industry discussions about self-custody. The top platforms storing Bitcoin include Binance, Bitfinex, Robinhood, Upbit, Kraken, OKX, and Gemini. These platforms have expanded their services to include yield generation, collateralized derivative products, and lending solutions, which require substantial Bitcoin reserves. Binance controls about 30% of all Bitcoin on centralized platforms, followed by Bitfinex, Robinhood, and Upbit. Despite the substantial amount of Bitcoin held on exchanges, there have been mixed movements across different platforms in the past month, reflecting complex market dynamics.

Comparing Bitcoin Holdings: Coinbase, BlackRock, and Strategy – Who is the True BTC Leader?

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, remains the largest holder of the cryptocurrency, with an estimated 1.1 million BTC. US-based exchange Coinbase holds the next largest amount, with 993,069 BTC, followed by BlackRock, the largest institutional holder, with 761,801 BTC. Other significant BTC holders include Binance, Fidelity, Grayscale, and Strategy. There are also notable holdings by publicly traded firms, private companies, and even nations. The US government, for instance, holds 328,000 BTC, largely from asset seizures. Other countries with notable Bitcoin holdings include the UK, China, Ukraine, and Germany. Despite the substantial holdings by these entities, Nakamoto's BTC remains largely untouched since the asset's inception.

White House Suggests $500K Daily Fines for Avoiding Yield Restrictions

The White House is proposing strict regulatory measures, including daily $500,000 civil penalties, to prevent firms from offering yield or interest on stablecoin balances. These provisions are designed to stop firms from creating products that mimic yield farming on stablecoin balances. The latest discussions with crypto industry leaders are focused on whether firms can offer rewards linked to specific user activities. The proposed regulation would grant the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) enforcement authority to issue these civil penalties. Trade groups and crypto firms continue to negotiate and seek compromise on allowing stablecoin rewards. The objective is to reach a consensus by the end of the month.

Is XRP Primed for a Surge? Liquidity Trends Resembling Past Significant Upswings

XRP's market structure hints at a new phase of liquidity compression, signaled by exchange flows and on-chain liquidity conditions that have historically forebode heightened volatility. Large deposits on Binance exchange have previously surged before a significant XRP rally, a pattern often linked with escalating volatility rather than immediate selling. The current market conditions are different, with USD liquidity declining, indicating a thinner market depth compared to previous expansion phases. Furthermore, XRP's active supply for trading has decreased sharply, a pattern that also preceded the last rally. Investor interest remains high, with XRP being the second-most popular digital asset after Bitcoin. However, shrinking liquidity on both the USD and XRP side could lead to outsized impact on price from even minor changes in trading pressure, making the market fragile.

Ripple's Brad Garlinghouse Foresees a 90% Possibility of Imminent Approval for the CLARITY Act

Ripple's CEO Brad Garlinghouse anticipates a 90% likelihood of the Digital Asset Market Clarity (CLARITY) Act becoming law by April 2026, due to substantial legislative progress in Washington. This prediction reflects recent collaborations between lawmakers, the White House, cryptocurrency firms, and banking representatives. The CLARITY Act aims to set a unified federal framework for digital assets, with clearer boundaries to reduce legal uncertainty and encourage wider participation from financial institutions. However, the role of stablecoins remains a contentious issue. While banking groups warn of potential risks, crypto firms argue that restrictions may lead to activities shifting to other jurisdictions. The growing confidence in the bill's approval is reflected in market expectations.

Altcoins Feel the Heat as $730 Billion Disappears from Crypto Market in 100 Days

The crypto market has seen a decline of $730 billion in the last 100 days, with smaller altcoins facing rapid losses. The market cap of Bitcoin fell by 21.62% according to on-chain analyst GugaOnChain, while the top 20 cryptocurrencies excluding Bitcoin and stablecoins dropped 15.17%. Mid and small-cap altcoins also saw a plunge of 20.06%. As selling pressure continues, large transfers to exchanges suggest possible sale or rebalancing of holdings. Meanwhile, Bitcoin’s dominance remains at 57%, indicating no significant shift of capital to altcoins. Network activity has fallen, with a decrease in unique Bitcoin addresses and new address creation. Overall, the market’s bearish sentiment deepens as sellers continue to dominate.

Looking at my portfolio...

A Year in Review: The Pi Network (PI) Journey - Progress, Hurdles, and Future Prospects

For the past year, the Pi Network has undergone significant changes with multiple upgrades, despite seeing its native token PI suffer a steep price decline. Its open network launch led to PI being listed on Bitget, OKX, and MEXC exchanges, causing a high initial demand that boosted its valuation. However, challenges like ongoing token unlocks and scam accusations led to a price drop. Despite a 94% decline from its all-time high, PI witnessed sporadic price revivals due to system upgrades. Significant developments include Pi Network Ventures' launch, a foray into the AI space, the introduction of the first Hackathon, and a partnership with CiDi Games. As the community anticipates another productive year, there are expectations of a major upgrade and possible listing on leading exchanges.

Cryptocurrency Valuation Breakdown for February-20: Examining ETH, XRP, ADA, BNB, and HYPE

This week saw a minor increase in Ethereum (ETH) of 1%, potentially indicating a future reversal as sell momentum fades. Ripple (XRP) had a 5% increase, but this wasn't enough to turn the chart bullish due to a sharp rejection at $1.6 resistance. Cardano (ADA) closed the week with a 6% gain, but struggles near the $0.28 support level suggest possible future losses. Binance Coin (BNB) saw a 3% gain while holding at the $580 support level, despite a yet-untested resistance at $690. Hyperliquid (HYPE) suffered a 5% loss, with a significant rejection at the $36 and $30 resistance levels signaling the potential for further lows.

How Might the $2B Bitcoin Options Expiry Today Influence the Crypto Markets?

Approximately 30,600 Bitcoin options contracts, equating to around $2 billion, are set to expire on February 20. The event, though smaller than the previous week's expiry, is unlikely to impact spot markets. Currently, the crypto markets are in bear territory, but have remained steady over the past week due to reduced volume and volatility. This week's Bitcoin options contracts have a put/call ratio of 0.59, indicating more expiring calls than puts. Open interest remains highest at $60,000, with bearish bets increasing. Additionally, 212,000 Ethereum contracts are also set to expire, bringing the total value of crypto options expiries to about $2.4 billion. The total market capitalization has been flat for the past 24 hours, and Bitcoin has slowly eroded since Monday, hitting a weekly low of $65,700.